How Long To Improve Credit Score So I Can Get My Good Credit Rating Back?
Searching the internet for how long to improve credit score will yield many answers from quick and instant to a few years. There is true answer, however, it is not standard.
Think about it for a minute. Will your credit report and your best friend's credit report show the same scores? They probably will not. How long to improve credit score will depend on how low the score is and the reasons behind the low score. Low scores are caused by anything from mistakes and false debts on behalf of lenders to late payments.
The best answer to how long to improve credit score
If the low score is due to mistakes or false debts reported by lenders, then it will be a fairly quick and easy to clean up (below is information on steps to take in order to take care of the inaccuracies on your report). On the other hand, if the low score is due to lack of payment or late payment on loans or credit cards, then improving your score will take a longer amount of time and more effort (below you will find tips on how to improve your credit score).
Steps take care of the inaccuracies reported by lenders:
- Contact the lender by phone and by certified letter to dispute the mistake or false debt. Be sure to enclose proof of payment in the letter.
- Contact the collection agencies by certified letter with proof of payment also.
- Notify the three credit reporting agencies of your dispute by certified letter. They are required to respond to you within 30 days.
A few tips for improving your credit due to late payments or lack of payments:
- Make payment plans for yourself that you can stick to, in order to pay off any debts you have.
- Obtain a collateralized loan from a trusted lender, so that your on time payments will be reported to the credit reporting agencies.
- Make all future payments early or on time.
- Pay as much over the minimum amount due as you can every time you make a payment on a credit card or loan.
Just as your ways of life are very different from anyone else's, how long to improve credit score will also be different
Related Credit Score and Repair Articles
Interested In Free Online Credit Checks
discusses how to obtain free online credit checks
Do You Know What Score Is Considered To Be A Good Credit Score?
Discusses the issues that factor into a good credit score
The Average National Credit Score
discusses how average national credit score is figured
